Tag: composition scheme in gst

Any business with an annual turnover less than 1.5 Cr, and involved in trading, manufacturing or owns a restaurant can get registered under the Composition Scheme. Composite dealers have to file their GST returns on a quarterly basis. Although some GST laws are relaxed for…

Ever since GST was launched on 1st July, the implementation of the law has undergone a multitude of changes. On various fronts, the government has softened its stand and has brought in significant changes to the original law – for instance, GST composition scheme changes,…

A person whose aggregate turnover does not exceed Rs. 75 Lakhs (special category States except Uttarakhand) and Rs. 1 crore (rest of India) has the option to register as a composition tax payer. This option can be exercised in 3 scenarios: During transition from the…

All registered taxable persons under the existing indirect tax regime will be automatically transitioned to GST and will be given a provisional registration ID. After validation of the details submitted during enrolment, final registration IDs will be issued. Similarly, those traders, who have opted for…

This post has been updated on 24 April 2017 to incorporate latest changes. The current state indirect tax regime has provided a simpler compliance for small dealers known as the Composition Scheme. Under this scheme you, Are you GST ready yet? Get ready for GST with…

The biggest Tax reform in Independent India, Goods and Services Tax Act (GST) has brought on a platter, a concept called “Composition Levy’ to its taxpayer. Are you GST ready yet? Get ready for GST with Tally.ERP 9 Release 6 Get a Free Trial 24,965 total…